To Our Shareholders
I would like to express my gratitude for your continuous support.
Currently, large private-sector projects and infrastructure development programs are in full swing in Japan, especially in the Tokyo metropolitan area, for the Tokyo 2020 Olympic and Paralympic Games, creating an economic boom in the construction industry.
Against this backdrop, our group has good prospects of achieving successful results for the current fiscal year, the final year of our Medium-term Business Plan that started in FY2015. The financial results are expected to far exceed the goals publicly stated in May 2017.
Going forward, we will continue striving to respond appropriately to the present high demand and to increase our mid-to-long term competitiveness, taking into consideration the relative uncertainty of future market conditions. At the same time, we will also continue our efforts to create new value for society as well as for customers.
Furthermore, as one of leading companies in the industry, we will take the initiative in addressing work style reforms and advancing productivity to meet the urgent need to secure and develop workers in the construction industry.
Additionally, it was resolved at the board meeting on May 12, 2017 to acquire the Company's own shares in order to increase shareholder returns and to improve capital efficiency. Based on this resolution, we acquired 24,047,000 common shares (at an acquisition price of 24,999 million yen) and canceled all of those shares on November 30, 2017 (number of shares after the consolidation of shares: 4,809,400).
I sincerely appreciate your continuous and invaluable guidance and support.
President and Chief Executive Officer